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Belknap County finance director reports steady fund balance, explains short-term borrowing
Summary
Laurie Sharp reported a $5.98 million unaudited fund balance, temporary TAN borrowing of $11.151 million at roughly 3.4% and an expected payback of about $11.46 million; she said revenue timing explains a low early-year collections rate and nursing-home receivables are collecting about 95% for 2026.
Laurie Sharp delivered the county’s financial update, saying that about 21% of the way through 2026 the county had collected roughly 4% of annual revenue so far — a timing-driven pattern she said is typical for deed- and quarterly receipts.
Sharp reported an unaudited fund balance of $5,982,005.65 and described a short-term note (TAN) taken for $11,151,000 at about a 3.4% rate; she said the payback with interest is estimated at $11,462,732. She added that the TAN bidding process returned a range of offers, from 3.4% to 4.85%, and the county selected the 3.4% bid from M&T Bank.
On operating lines, Sharp said expenses are about 19% spent to date and that projected savings in administration and deed-related staffing contribute to a modest projected surplus roughly in the $35,000 range. She also told commissioners the nursing-home receivables collection rate is around 95% going into 2026 and flagged timing as the likely driver for small month-to-month shifts.
Commissioners asked about audit timing and contracts for fuel and electricity; Sharp said the audit portal was recently received and the vendor anticipates finishing by late April or early May, and that the county’s electricity contract runs through 2027. Commissioners asked about commodity price increases and whether contracts protect the budget.
Sharp recommended continued conservative monitoring of fuel and utility costs and said staff would return with updates as new information emerges.
